The Philippine International Trading Corp. (PITC), which is the trading arm of the Department of Trade and Industry (DTI), is pushing for the establishment of pharmazones, or special economic zones dedicated to pharmaceutical companies. This is part of the Duterte administration’s efforts to make specialized, and quality high-end healthcare products more accessible and affordable to the Filipino people.
According to PITC president Dave Almarinez, the move is also in line with the government’s initiative to turn the Philippines into a major manufacturing hub for medicine in the region.
Aside from lower the price of medicine and other pharmaceutical products, the establishment of these pharmazones will generate thousands of new jobs across the archipelago.
PITC, together with PEZA, the Department of Health, the Board of Investments, and the Bureau of International Trade Relation, have initially identified 28 manufacturing sites for pharmazones in various regions across the country. Including areas in Mindanao and the Visayas.
Almarinez was recently back in his home province of Laguna, where he was formerly the number one boardmember before taking the helm at PITC, to talk about the economic benefits from pharmazones, as well as the other programs of his office.